TCS pips Reliance Industries to regain top spot

Around 12.30 pm on Wednesday, Mukesh Ambani-led company had a market value of Rs 7.31 lakh crore while TCS was at around Rs 7.39 lakh crore.

New Delhi: Tata Consultancy Services (TCS), the flagship company of the Tata group, has become India's largest listed company in terms of market value by overtaking Reliance Industries Limited (RIL).

Around 12.30 pm on Wednesday, Mukesh Ambani-led company had a market value of Rs 7.31 lakh crore while TCS was at around Rs 7.39 lakh crore.

Coupled with COVID-19 fears, Saudi Arabia’s decision to unleash oil price war against Russia led to mayhem on Monday in stock and commodities markets across the globe.

At the end of trading session on Monday, Reliance shares slumped as much as over 13 per cent and had a market capitalization of Rs 7.05 lakh crore, while TCS’s m-cap was Rs 7.40 lakh crore.

As per the available information, on 20 September 2019, RIL raced past TCS to clinch the title of the most valued domestic firm by market valuation.

The market capitalisation (m-cap) of companies changes daily with stock price movement.

(With Inputs from PTI)